Global Cash Access Holdings Inc. (GCA, Financial) filed Quarterly Report for the period ended 2012-06-30.
Global Cash Access Holdings, Inc. has a market cap of $438 million; its shares were traded at around $6.57 with a P/E ratio of 15.5 and P/S ratio of 0.8.
ATM revenues for the three months ended June 30, 2012 were $76.6 million, an increase of $5.4 million, or 8%, as compared to the three months ended June 30, 2011. The growth in the quarter was primarily due to the revenues derived from the contracts acquired in the MCA asset acquisition. Excluding the contracts acquired in the MCA asset acquisition and the negative impact of a $2.1 million decrease in ATM revenue attributable to the recent reduction in ATM interchange reimbursement rates that were implemented by various card associations in the second quarter 2012, ATM revenues for the three months ended June 30, 2012 were consistent with the same period in the prior year.
Operating expenses for the three months ended June 30, 2012 were $19.0 million, an increase of $1.7 million, or 10%, as compared to the three months ended June 30, 2011. The increase in operating expenses is primarily due to higher ATM related expenses related to the portfolio of ATM devices acquired from MCA, payroll and related costs, franchise taxes, travel and related costs, repairs and maintenance charges and loss on sales of assets; partially offset by a reduction in stock-based compensation of $0.9 million. For 2012, the current run-rate for operating expenses is consistent factoring in the one-time charges that occurred during the three months ended June 30, 2012 as compared to the three months ended March 31, 2012.
ATM revenues for the six months ended June 30, 2012 were $157.0 million, an increase of $14.5 million, or 10%, as compared to the six months ended June 30, 2011. The growth in the quarter was primarily due to the revenues derived from the contracts acquired in the MCA asset acquisition. Excluding the contracts acquired in the MCA asset acquisition and the negative impact of a $2.1 million decrease in ATM revenue attributable to the recent reduction in ATM interchange reimbursement rates that were implemented by various card associations in the second quarter 2012, ATM revenues for the six months ended June 30, 2012 modestly increased as compared to same period in the prior year.
Operating expenses for the six months ended June 30, 2012 were $36.4 million, an increase of $3.1 million, or 9%, as compared to the six months ended June 30, 2011. The increase in operating expenses was primarily due to higher ATM related expenses associated with the portfolio of ATM devices acquired from MCA, payroll and related costs franchise taxes, travel and related costs, repairs and maintenance charges and loss on sales of assets; partially offset by a reduction in stock-based compensation of $1.2 million.
Read the The complete Report
Global Cash Access Holdings, Inc. has a market cap of $438 million; its shares were traded at around $6.57 with a P/E ratio of 15.5 and P/S ratio of 0.8.
Highlight of Business Operations:
Total revenues for the three months ended June 30, 2012 were $147.5 million, an increase of $12.4 million, or 9%, as compared to the same period in the prior year. The primary driver of the increase in revenue was due to the MCA asset acquisition coupled with modest growth in our base business for the three months ended June 30, 2012, as compared to the same period of 2011.ATM revenues for the three months ended June 30, 2012 were $76.6 million, an increase of $5.4 million, or 8%, as compared to the three months ended June 30, 2011. The growth in the quarter was primarily due to the revenues derived from the contracts acquired in the MCA asset acquisition. Excluding the contracts acquired in the MCA asset acquisition and the negative impact of a $2.1 million decrease in ATM revenue attributable to the recent reduction in ATM interchange reimbursement rates that were implemented by various card associations in the second quarter 2012, ATM revenues for the three months ended June 30, 2012 were consistent with the same period in the prior year.
Operating expenses for the three months ended June 30, 2012 were $19.0 million, an increase of $1.7 million, or 10%, as compared to the three months ended June 30, 2011. The increase in operating expenses is primarily due to higher ATM related expenses related to the portfolio of ATM devices acquired from MCA, payroll and related costs, franchise taxes, travel and related costs, repairs and maintenance charges and loss on sales of assets; partially offset by a reduction in stock-based compensation of $0.9 million. For 2012, the current run-rate for operating expenses is consistent factoring in the one-time charges that occurred during the three months ended June 30, 2012 as compared to the three months ended March 31, 2012.
ATM revenues for the six months ended June 30, 2012 were $157.0 million, an increase of $14.5 million, or 10%, as compared to the six months ended June 30, 2011. The growth in the quarter was primarily due to the revenues derived from the contracts acquired in the MCA asset acquisition. Excluding the contracts acquired in the MCA asset acquisition and the negative impact of a $2.1 million decrease in ATM revenue attributable to the recent reduction in ATM interchange reimbursement rates that were implemented by various card associations in the second quarter 2012, ATM revenues for the six months ended June 30, 2012 modestly increased as compared to same period in the prior year.
Operating expenses for the six months ended June 30, 2012 were $36.4 million, an increase of $3.1 million, or 9%, as compared to the six months ended June 30, 2011. The increase in operating expenses was primarily due to higher ATM related expenses associated with the portfolio of ATM devices acquired from MCA, payroll and related costs franchise taxes, travel and related costs, repairs and maintenance charges and loss on sales of assets; partially offset by a reduction in stock-based compensation of $1.2 million.
Read the The complete Report
